Defense Contract Profit Policy Act of 1991

Defense Contract Profit Policy Act of 1991 - Amends Federal defense procurement provisions to require each covered defense contractor (a contractor which is awarded defense contracts, or which receives payments from the United States, in a total amount of at least $100,000,000 in any 12-month period) to submit annually a profits information report to an independent firm designated by the Secretary of Defense to receive such reports and annually transmit aggregate data to the Secretary. Requires a covered defense contractor to have the information submitted to the independent firm verified for reliability and accuracy by the same independent certified public accountant who furnishes to the Securities and Exchange Commission an opinion on the contractor's fair presentation of its financial statement. Allows the Secretary to waive such reporting requirements if disclosure would be detrimental to the success of a classified project and injurious to national security. Provides for the confidentiality of all submitted information.

Directs the Secretary to conduct and report to the Congress on an annual study of the financial situation and level of profitability of covered defense contractors under covered contracts.